Sprinklr, Inc. (NYSE:CXM) Sees Significant Decrease in Short Interest

Sprinklr, Inc. (NYSE:CXM) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 7,930,000 shares, a decrease of 7.0% from the September 30th total of 8,530,000 shares. Approximately 7.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,590,000 shares, the days-to-cover ratio is currently 5.0 days.

Insider Buying and Selling

In other Sprinklr news, insider Diane Adams sold 4,282 shares of Sprinklr stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $33,528.06. Following the transaction, the insider now owns 390,940 shares in the company, valued at $3,061,060.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CMO Arun Pattabhiraman sold 10,291 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $80,578.53. Following the completion of the transaction, the chief marketing officer now directly owns 448,947 shares in the company, valued at approximately $3,515,255.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Diane Adams sold 4,282 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $33,528.06. Following the sale, the insider now owns 390,940 shares in the company, valued at $3,061,060.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 338,480 shares of company stock worth $2,545,967 in the last ninety days. 30.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Sprinklr

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Sprinklr by 30.6% in the first quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock worth $187,105,000 after acquiring an additional 3,575,001 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Sprinklr by 107,818.1% in the 2nd quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock worth $16,320,000 after purchasing an additional 1,694,900 shares in the last quarter. Solel Partners LP grew its position in Sprinklr by 46.8% in the 2nd quarter. Solel Partners LP now owns 3,692,963 shares of the company’s stock valued at $35,526,000 after purchasing an additional 1,176,726 shares during the period. Letko Brosseau & Associates Inc. increased its stake in Sprinklr by 63.5% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock valued at $20,494,000 after purchasing an additional 827,375 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Sprinklr by 212.6% during the first quarter. Principal Financial Group Inc. now owns 690,055 shares of the company’s stock worth $8,467,000 after buying an additional 469,305 shares during the last quarter. Institutional investors and hedge funds own 40.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. KeyCorp reduced their price target on Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Rosenblatt Securities decreased their price target on shares of Sprinklr from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Cantor Fitzgerald reduced their price objective on shares of Sprinklr from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Morgan Stanley lowered their target price on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, September 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Sprinklr in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Sprinklr presently has a consensus rating of “Hold” and an average target price of $10.00.

Sprinklr Stock Performance

Shares of NYSE:CXM traded up $0.06 during midday trading on Thursday, reaching $7.43. The company’s stock had a trading volume of 1,086,873 shares, compared to its average volume of 2,188,006. The firm has a 50 day moving average price of $7.73 and a two-hundred day moving average price of $9.41. Sprinklr has a fifty-two week low of $6.91 and a fifty-two week high of $17.14. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 41.39, a PEG ratio of 2.10 and a beta of 0.76.

Sprinklr (NYSE:CXM) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $197.21 million for the quarter, compared to analysts’ expectations of $194.58 million. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. As a group, research analysts anticipate that Sprinklr will post 0.11 earnings per share for the current year.

About Sprinklr

Sprinklr, Inc provides enterprise cloud software products worldwide. The company operates Unified Customer Experience Management platform, a software that enables customer-facing teams to collaborate across internal silos, communicate across digital channels, and leverage a complete suite of capabilities to deliver customer experiences.